World Bank President Paul Wolfowitz today outlined a comprehensive strategy for tackling corruption, a serious impediment to development and effective governments. Speaking in Jakarta, Indonesia, Wolfowitz laid out a three-prong plan for expanding the World Bank Group’s work on governance and anti-corruption at the country level, in Bank projects, and through partnerships with various stakeholders.
“Corruption is often at the very root of why governments don’t work,” said Wolfowitz. “It weakens the systems and distorts the markets. In the end, governments and citizens will pay a price, in lower incomes, lower investment and more volatile economic swings. But when governments do work—when they tackle corruption and improve their rule of law—they can raise their national incomes by as much as four times.”
At the country level, Wolfowitz said that governance and anti-corruption measures will be strengthened in all Bank instruments, including loans, grants, research and technical assistance.
See full Press Release.
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